The continued consolidation in the Destination Club industry saw another merger last week, when Quintess combined with The Leading Residences of the World, to create a club with nearly 300 members and 49 homes in 26 destinations.
The new club, Quintess, The Leading Residences of the World, also entered into an exclusive agreement with The Leading Hotels of the World to develop club homes at the Leading Hotels properties. The deal is expected to close by the end of this month.
In September this year, Quintess merged with Dream Catcher Retreats, to form Quintess, Catch the Dream.
The current lowest membership fee for Quintess is $185,000, with annual dues of $16,000 to gain access to the club's $4m homes. The club plans to cap it's membership at 800 full member equivalents (a maximum of 1,000 total members), and will continue to remain an invitation only club and concentrate on referrals from members.